MINNEAPOLIS—Paul Verrastro, the Chief Marketing and Strategy Officer of CVRx, Inc. (NASDAQ:CVRX), recently sold 1,430 shares of the company's common stock. The shares were sold on November 19 at prices ranging from $13.525 to $13.64, totaling approximately $19,416.
In addition to the sale, Verrastro exercised options to acquire 2,500 shares at a price of $5.141 per share, representing a total value of $12,852. Following these transactions, Verrastro now holds 835 shares directly.
CVRx, Inc., a medical device company headquartered in Minneapolis, focuses on innovative solutions for cardiovascular disorders. The transactions were reported in a recent SEC filing on Form 4, providing transparency into insider trading activities.
In other recent news, CVRx, Inc. has secured a favorable payment classification from the Centers for Medicare and Medicaid Services (CMS) for its Barostim procedure. The CMS has assigned the Barostim procedure to the New Technology Ambulatory Payment Classification (APC) 1580, ensuring a consistent Medicare payment of approximately $45,000 until 2025. In financial updates, CVRx reported a 27% increase in total revenue for Q3 2024, totaling $13.4 million, despite experiencing a net loss of $13.1 million. The company anticipates total revenue for the full year to be between $50.5 million and $51.5 million. However, it's worth noting that the company's net loss widened from $9 million in Q3 2023 to $13.1 million in Q3 2024. The recent reimbursement changes are expected to enhance patient access to this treatment and strengthen CVRx's commercial foundation. These are the recent developments from CVRx.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on CVRx's financial position and market performance, providing context to Paul Verrastro's recent stock transactions.
CVRx has demonstrated strong market momentum, with InvestingPro data showing a remarkable 45.52% price return over the past month and an even more impressive 77.1% return over the last three months. This upward trend aligns with two InvestingPro Tips: "Strong return over the last month" and "Strong return over the last three months." These positive indicators suggest that the market is responding favorably to CVRx's recent developments and future prospects.
Despite the recent stock performance, it's important to note that CVRx faces some financial challenges. An InvestingPro Tip indicates that the company "is not profitable over the last twelve months," with a negative operating income margin of -124.59% for the last twelve months as of Q3 2024. However, CVRx's revenue growth remains strong, with a 34.38% increase over the same period, signaling potential for future improvement.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for CVRx, providing a deeper understanding of the company's financial health and market position.
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